More Threats to U.S. Dollar Dominance

We Americans have enjoyed a tremendous privilege with our currency.  For the past 70 years the world has had to come up with our currency of US DOLLARS to make almost any major purchase!

That means that we have had a built in demand for our currency and that also means we could print as much as we wanted of the world's only reserve currency...while every other nation couldn't.

So what might happen if the other countries of the world are sick of the system we have been on for the past 70 years?  What if the big economies of the world like China, India, Russia, Brazil, started to come up with direct purchase agreements which totally bypassed the US DOLLAR?

When that day comes, (and it will, we just have no idea when) it will drastically change the standard of living in the USA.

Think about it...what if USA had to come up with Chinese Yuan in order to settle all our debts and payments?  We would have to start living on a budget!!  And Lord knows if the USA had to balance it's budget immediately and start working everyday at coming up with Yuan so we don't default on our promises....our current method of spending whatever we want today and putting it on a credit card due in 20 years would CEASE!

It has been a while since both Ukraine, and the ongoing Russian response to western sanctions (which set off the great Eurasian axis in motion, pushing China and Russia close together, and accelerating the "Holy Grail" gas deal between the two countries) have made headlines. It is still not clear just why the western media dropped Ukraine coverage like a hot potato, especially since the civil war in Ukraine's Donbas continues to rage and claim dozens of casualties on both sides. Perhaps the audience has simply gotten tired of hearing about mixed chess/checkers game between Putin vs Obama, and instead has reverted to reading the propaganda surrounding just as deadly events in the third war of Iraq in as many decades. 

However, "out of sight" may be just what Russia's political elite wants. In fact, as VoR's Valentin Mândrescu reports, while the great US spin and distraction machine is focused elsewhere, Russia is already preparing for the next steps. 

Which brings us to Putin advisor Sergey Glazyev, the same person who in early March was the first to suggest Russia dump US bonds and abandon the dollar in retaliation to US sanctions, a strategy which worked because even as the Kremlin has retained control over Crimea, western sanctions have magically halted (and not only that, but as the Russian central bank just reported, the country's 2014 current account surplus may be as high as $35 billion, up from $33 billion in 2013, and a far cry from some fabricated "$200+ billion" in Russian capital outflows which Mario Draghi was warning about recently). 

Glazyev was also the person instrumental in pushing the Kremlin to approach China and force the nat gas deal with Beijing which took place not necessarily at the most beneficial terms for Russia. 

It is this same Glazyev who published an article in Russian Argumenty Nedeli, in which he outlined a plan for "undermining the economic strength of the US" in order to force Washington to stop the civil war in Ukraine. Glazyev believes that the only way of making the US give up its plans on starting a new cold war is to crash the dollar system.

Unsurprisingly, Sergey Glazyev believes that the main role in the creation of such a political coalition is to be played by the European business community because America's attempts to ignite a war in Europe and a cold war against Russia are threatening the interests of big European business. Judging by the recent efforts to stop the sanctions against Russia, made by the German, French, Italian and Austrian business leaders, Putin's aide is right in his assessment. Somewhat surprisingly for Washington, the war for Ukraine may soon become the war for Europe's independence from the US and a war against the dollar.

Read more at http://www.prophecynewswatch.com/2014/June24/242.html#4LvAwRlcwOqMvRJ5.99

"War against the dollar!!  Crash the dollar system?!?  Who could possibly want to do that to this wonderful country??  This is America!!  The greatest nation on earth!!  You all owe us for saving the world from Nazis and holding the Russian Bear at bay for 50 years!!  Now quit all this chatter about messing with the current system...which has made us the wealthiest nation to EVER exist."

No doubt it's comical to me to know that there are many Americans who think that nothing catastrophic could ever happen to America...simply because it's America....as if that means ANYTHING to the rest of the nations who are playing the game KING OF THE HILL.  They want to shove us off the top so they can scramble to a better situation as they watch us tumble.

Poor Obama....he simply can't grasp this situation and totally believed that he was going to charm the entire world with his charisma and swagger.

I now believe it may be too late for America to stay as KING OF THE HILL.  There is no doubt we are going to come off the top...it's just a matter of how and when.  Will we be pushed or just fall off because we lost our balance?  Will we fall head over hills as we tumble to the bottom or will we just do a slow slide?

Only God knows....